More than $2.5 billion in new agreements and pledges between US and African partners were made at the 17th US-Africa Business Summit, according to the US.
According to the US Department of State, nearly 2,700 leaders from the public and private sectors in the US and Africa attended the meeting from June 22 to 25.
The Corporate Council on Africa and the President of Angola sponsored the conference, according to the department, which also noted that 12 African heads of state attended, setting a new attendance record.
“More than $2.5 billion in new agreements and commitments between US and African partners were announced during the summit,” the statement read.
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Among the agreements and pledges was a strategic partnership agreement between the Angolan Cargo and Logistics Certification Regulatory Agency and a U.S. consortium headed by Florida-based Amer-Con Corporation to build and run 22 grain silo terminals along the Lobito Corridor.
The U.S. Export-Import Bank is supporting the project, which is anticipated to greatly improve Angola’s agri-logistics and food security capabilities.
Also, Angola Telecom and U.S. technology company Cybastion also inked a $170 million investment agreement to advance cybersecurity and digital infrastructure via Cybastion’s “Digital Fast Track” program.
The investment would support Angola’s digital development by supplying contemporary infrastructure and local training.
In collaboration with AG&P and supported by the U.S. International Development Finance Corporation, CEC Africa Sierra Leone Ltd. inked a Memorandum of Understanding to build the first LNG terminal in West Africa sourced from the United States.
